Stamos Capital Partners L.P. purchased a new stake in Verizon Communications Inc. (NYSE:VZ) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 19,000 shares of the cell phone carrier’s stock, valued at approximately $1,068,000.
Several other institutional investors and hedge funds also recently bought and sold shares of VZ. HC Financial Advisors Inc. raised its stake in shares of Verizon Communications by 51.6% during the third quarter. HC Financial Advisors Inc. now owns 43,302 shares of the cell phone carrier’s stock worth $2,312,000 after buying an additional 14,739 shares during the last quarter. FTB Advisors Inc. raised its holdings in Verizon Communications by 3.2% during the 3rd quarter. FTB Advisors Inc. now owns 31,019 shares of the cell phone carrier’s stock worth $1,656,000 after purchasing an additional 967 shares during the last quarter. Jones Financial Companies Lllp raised its holdings in Verizon Communications by 0.9% during the 3rd quarter. Jones Financial Companies Lllp now owns 148,765 shares of the cell phone carrier’s stock worth $7,942,000 after purchasing an additional 1,343 shares during the last quarter. Paragon Capital Management LLC raised its holdings in Verizon Communications by 223.3% during the 3rd quarter. Paragon Capital Management LLC now owns 5,977 shares of the cell phone carrier’s stock worth $319,000 after purchasing an additional 4,128 shares during the last quarter. Finally, Northeast Financial Consultants Inc bought a new position in Verizon Communications during the 3rd quarter worth approximately $305,000. Institutional investors own 65.56% of the company’s stock.
NYSE VZ opened at $57.36 on Thursday. Verizon Communications Inc. has a 12-month low of $47.13 and a 12-month high of $61.58. The company has a debt-to-equity ratio of 1.83, a current ratio of 0.87 and a quick ratio of 0.83. The firm has a market capitalization of $235.03 billion, a P/E ratio of 12.18, a price-to-earnings-growth ratio of 2.82 and a beta of 0.50.
Verizon Communications (NYSE:VZ) last posted its quarterly earnings results on Tuesday, April 23rd. The cell phone carrier reported $1.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.17 by $0.03. Verizon Communications had a net margin of 12.20% and a return on equity of 35.40%. The business had revenue of $32.13 billion during the quarter, compared to the consensus estimate of $32.13 billion. During the same quarter last year, the firm posted $1.17 EPS. Verizon Communications’s revenue was up 1.1% compared to the same quarter last year. On average, sell-side analysts expect that Verizon Communications Inc. will post 4.75 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 1st. Shareholders of record on Wednesday, July 10th will be issued a dividend of $0.6025 per share. This represents a $2.41 dividend on an annualized basis and a yield of 4.20%. The ex-dividend date of this dividend is Tuesday, July 9th. Verizon Communications’s dividend payout ratio is 51.17%.
VZ has been the subject of several research analyst reports. Goldman Sachs Group reiterated a “buy” rating and issued a $65.00 price objective on shares of Verizon Communications in a research note on Tuesday, April 23rd. UBS Group lowered shares of Verizon Communications from a “buy” rating to a “neutral” rating and set a $57.70 price objective for the company. in a research note on Thursday, May 30th. They noted that the move was a valuation call. Zacks Investment Research upgraded shares of Verizon Communications from a “hold” rating to a “buy” rating and set a $64.00 price objective for the company in a research note on Saturday, May 11th. Royal Bank of Canada reiterated a “neutral” rating and issued a $57.00 price objective on shares of Verizon Communications in a research note on Tuesday, April 23rd. Finally, Bank of America set a $64.00 price objective on shares of Verizon Communications and gave the company a “buy” rating in a research note on Tuesday, April 23rd. Ten analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $58.20.
In other Verizon Communications news, EVP Craig L. Silliman sold 1,349 shares of Verizon Communications stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $59.20, for a total transaction of $79,860.80. Following the transaction, the executive vice president now directly owns 26,728 shares of the company’s stock, valued at approximately $1,582,297.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Anthony T. Skiadas sold 6,134 shares of Verizon Communications stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $57.11, for a total transaction of $350,312.74. Following the transaction, the senior vice president now directly owns 20,000 shares in the company, valued at $1,142,200. The disclosure for this sale can be found here. Insiders have sold a total of 10,181 shares of company stock worth $587,143 over the last ninety days. Insiders own 0.03% of the company’s stock.
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Verizon Communications Company Profile
Verizon Communications Inc, through its subsidiaries, offers communications, information, and entertainment products and services to consumers, businesses, and governmental agencies worldwide. The company's Wireless segment provides wireless voice and data services; Internet access on various notebook computers and tablets; international travel wireless services; and network access services to deliver various Internet of Things products and services, as well as offers digital advertising and digital media services platforms.
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